Sensex plunges 260 points in early session

A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), on Wednesday was trading 259.70 points or 1.06 percent down during the morning session.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading 79.55 points or 1.07 percent down at 7,376 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 24,393.59 points, was trading at 24,279.30 points (at 9.23 a.m.) in the early session, down 259.70 points or 1.06 percent from the previous day's close at 24,539 points.

The Sensex touched a high of 24,393.77 points and a low of 24,263.65 points in the trade so far.

In the other Asia-Pacific markets, too, the mood was sullen. Japan's Nikkei, Hong Kong's Hang Seng, Australia's ASX 200, the Shanghai Composite and the South Korean Kospi were all ruling in the red.

On Tuesday, even as the status quo on policy rates by the Reserve Bank of India was on expected lines, the mood was one of gloom in the Indian markets.

The Sensex ended the day with a loss of 285.83 points, or 1.15 percent, while Nifty lost 100.40 points, or 1.33 percent.

In the global markets, developments in the energy market continued to weigh sentiments heavily.

"The US markets ended in red on Tuesday as the sell-off on the Wall Street came amid a notable decrease by the price of crude oil, with crude for March delivery down by $1.74 to $29.88 a barrel," Angel Broking said ahead of the opening bell for the markets here.

"Traders may have been looking ahead to the release of some key economic data in the coming days, including the closely watched monthly jobs report due on Friday," said the brokerage, adding the European markets also fell over the oil prices.